Since Rockets owner Leslie Alexander announced last month that he’s looking to sell the team, several interested parties have emerged. Billionaire Dan Friedkin, whose wealth comes primarily from his ownership Gulf States Toyota Distributors, has thrown his name into the ring. Friedkin already has a relationship with the Rockets: Toyota has the naming rights for the Rockets’ home arena, the Toyota Center. Friedkin becomes the second billionaire to enter the race, after Houston native Tilman Fertitta announced his interest. The current owner of the Rockets, billionaire Leslie Alexander, who is age 74 bought the team in 1993 for a mere $85 million.

Source: Forbes August 15, 2017 20:33 UTC